Hard to believe, but the first quarter of 2018 is finished! Overall here's the picture: NOT ENOUGH HOMES ON THE MARKET. Demand is still out there and strong, but the selection is meager and obviously with home purchasing being such a huge financial commitment, buyers WILL hold out for something better if there's not a good match for sale. Stick with us for the full details!
We offer links at the bottom of the post to search Cincinnati MLS listed Lebanon Ohio homes for sale, and if you want specifics for What Is My Lebanon Ohio Home Worth?, please click that link and fill out the form. We'll get back to you shortly with the latest info that applies to YOUR home!
All data is derived from the Cincinnati MLS system. If any Lebanon single family homes homes traded hands without a REALTOR® involved, then it won't be reflected in this report. All data is for the Lebanon School District area, so is not limited solely to Lebanon city limits.
Some reasons why Lebanon Ohio is a great place to live:
- Named one of Ohio magazine's Top 5 Hometowns for 2012
- HUGE YMCA
- Ready access to Cincinnati and Dayton
- A cool historic downtown area
- Host to an abundance of festivals throughout the year
- The cost of living in Lebanon is more affordable than some other Warren County communities
- A full range of housing price points, from below 100k to some estate homes under a million dollars.
- There is still new construction available, but you can pick any age from historic to brand new.
Countryside, a pool community of Lebanon Ohio
So on to the review, first up, completed sales!
Next is the Lebanon median price summary chart.
Lebanon 45036 Single Family Home Category Data Summary
Homes Sold: 33 (2 Bank/Government Owned, 0 Short Sale, 2 New Construction) UP 2
Average Price: $236,685 UP $1.5k
Median Price: $230,000 UP $20k
Days on Market Average: 76 UP 35 (Median 24 days)
Homes Active 4/6/18 70 UP 1
Homes Pending 4/6/18: 77 UP 25
Sales/List %: 97.7% DOWN .4%
Most Expensive Home Sold: $493,000
Least Expensive Home Sold: $107,500
So what are the key takeaways from this month's numbers?
- It was actually a low month for total sales for a March, but it's easy to see why. There needs to be MORE homes on the market to statisfy buyer demand. Notice the HUGE increase in homes under contract? Factor in the number of new construction out of the homes for sale and it's tough to get huge SOLD numbers. Considering the 77 under contract, April should easily outperform March.
- Prices were stable on average and up a bit on median.
- Prices of homes sold had no homes below $100,000 and 8 above $300,000.
- New construction sales only accounted for 2 of the 31 sales.
- Time to sell is on average is at 11 weeks.
- Distressed properties continue to be a very small segment of the market. Two of the 33 sales was a foreclosure, and of the 70 homes on market 2 are bank owned and none are a short sale.
So what does this mean to you as a Lebanon single family home owner?
No change from past months other than expect things to start picking up speed as we get closer to Spring. If a buyer MUST buy, the relatively low inventory works to your advantage. That doesn't mean a home that is in poor condition or not priced right will still sell.
Give us a call and we can meet and determine what is best for your personal circumstances.
You're not going up against significant new construction in MOST communities, but places like Shaker Run and Trails of Shaker Run new construction do challenge your ability to sell.
And if you're not quite ready to enter the market, it's the PERFECT time to meet with us and get your To Do list ready to have your home optimally ready for when you ARE ready to sell your home!
For an evaluation of your specific home's marketability, please contact us 513-520-5305.
So what does this mean to you as a potential Lebanon home buyer?
No change here either. Watch for new homes for sale that fit your needs, but you STILL need to ACT quickly despite the longer time on market for most sellers.
The selection of foreclosed/short sale homes is minimal to nonexistent, so don't count on finding one to buy, much less one in good condition.
When you're considering buying a Lebanon home, please contact us 513-520-5305 or Liz@LizSpear.com with your needs and we'll help you find the right community for you! You can use the links below to review Cincinnati MLS homes listed in Lebanon for each of three price bands.
Search Lebanon Ohio 45036 Homes For Sale $400,000 and Up
Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz
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